Turnkey Duplex
New
For Sale
$465,000
309 Gurley Lane 2, Waco, TX 76706
Well-maintained duplex with two 3-bedroom, 3.5-bath units and a community pool included in the HOA.
Days on Market5
Property Features for 309 Gurley Lane 2
General Information
Standard status
Active
Property subtype
Duplex
Occupancy
100%
Amenities
community pool
Building Details
Building Size
2,700 SF
Year Built
2005
Year Renovated
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Bentwood Realty
(254) 300-4800
Listed By:
Amber Sheehan · License #623463
Source:
Whitelabelrealty
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 31 at 11:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bentwood Realty
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two spacious residential units, with each unit configured with three bedrooms and three and a half bathrooms. Both units include laminate wood flooring and open kitchen layouts, with upstairs bedrooms for added privacy. Unit A is updated with laminate wood flooring throughout and granite countertops, and it is described as move-in ready with all appliances conveying. Unit B also features laminate wood flooring, granite counters, and carpet in select bedrooms.
The property is currently listed as 100% occupied. A new roof was installed in 2025. The HOA includes a community pool, along with cable internet and lawn care, supporting an easier day-to-day ownership experience.
Offered for sale as a turnkey income-producing asset, this duplex is positioned near Baylor University and local shopping and dining.
The property is currently listed as 100% occupied. A new roof was installed in 2025. The HOA includes a community pool, along with cable internet and lawn care, supporting an easier day-to-day ownership experience.
Offered for sale as a turnkey income-producing asset, this duplex is positioned near Baylor University and local shopping and dining.
Key Highlights
- Duplex built in 2005 with two units, each offering 3 bedrooms and 3.5 bathrooms
- 100% occupancy currently in place
- Unit A updated with laminate wood flooring, granite countertops, and all appliances conveying
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.6k | $13.56 |
| − Vacancy | −$3.2k | −$1.19 |
| EGI | $33.4k | $12.37 |
| − OpEx | −$10.0k | −$3.71 |
| NOI | $23.4k | $8.66 |
2,700 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$334.1K
$292.4K – $389.8K
NOI $23,388 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$307.4K
$269.0K – $358.7K
NOI $21,520 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$712.3K
$623.3K – $831.1K
NOI $49,864 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 76706, TX
39,303
Population
16,600
Households
2.4
Avg Household Size
27
Median Age
23%
College-Educated
85%
High-School Grad
72.3 sq mi
ZIP Area
544
Density / Sq Mi
$42,277
Median Household Income
$23,954
Median Earnings
$1,063
Median Rent
$180,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two 3-bedroom, 3.5-bath units and a community pool included in the HOA.
Where is this duplex located?
The property is located at 309 Gurley Lane 2 Waco, TX.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Duplex built in 2005 with two units, each offering 3 bedrooms and 3.5 bathrooms; 100% occupancy currently in place; Unit A updated with laminate wood flooring, granite countertops, and all appliances conveying
